MKEA
Level 2

Thanks for your reply, dkh.  My main concern is whether I need to be filing a Sch D and a Form 4797 page 2.  I would have thought that PS would generate them, but it hasn't.

To answer your questions:

Yes, I've entered amounts paid.  (BTW, this is a 2022 return.)

You're right about the truck.  All the depreciation recapture is taxable in 2022.

The other asset is a noncompete agreement - ordinary income.

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